Tomco Energy Share Discussion Threads

[hotfinance14] 22/6/2021 15:46

So why has the share price tanked today ? It must be due to TOM mentioning further funding will be required.

[rmart] 22/6/2021 15:36

I would bet very heavily that the agm will be non attendable.

[vauch] 22/6/2021 15:34

Rmart if we get an AGM post covid restrictions, i can see it will be uncomfortable for our directors.

[jaynealex] 22/6/2021 15:21

I've topped up

[thesageofsaint] 22/6/2021 15:19

Tetchy today. Chill old guy you obviously have full belief irrespective of the contending facts. Dear me.

[shaunx] 22/6/2021 14:23

Been so much better since you left Andrew.

[lopodop] 22/6/2021 13:48

The overall issue here is that Groach is just a book-keeper who does not understand what is going on and quite possibly there is no love lost between JP (who is not an engineer) and him.

If the directors leave en masse or individually, the total cost of that could be up to £300k. They probably know their position is becoming more and more untenable and will have a weather eye on the cash to ensure the severance can be paid on a timely basis.

How on earth can investors put up with board?

It is high time that senior investors take the trouble to tell Groach to his face what they think of this shambles ie he and the others do not enjoy shareholders' support.

[fenners66] 22/6/2021 13:19

rmart - you have stated exactly what I was thinking , as a novice here, but well enough versed in reading RNS's

so damac - is the oracle privy to all inside information - which is not made available to the rest of the shareholders - even though they have just RNS'd on the very same subject.

Clearly the "unsubstantiated" bits are with the "100% fact" because it would have been so easy to clarify.

Can anyone explain to me what Tomco actually brings to the Petroteq production ?

Seems their own tech has been sidelined , along with their own licenses, instead moving forward with tech they do not own and funding with cash they have not got.

[rmart] 22/6/2021 12:50

damac, you should not step away.

The problem with tom is that they make everything as clear as mud.

I continue to ask. Why do they not make things clear?,

Why was the fact that the $16m for the land deal is included in the $110m not stated clearly in the rns?

Why was is not made clear that any placing would be for a small amount for general working capital through to completion of the plant construction? Why link the possibility of a fund raising to the option on the site?

The wording of the rns made an open goal for the de rampers to shoot at all day.

This part:

"However, we anticipate needing to raise additional funds in the event a decision is made to exercise our option to acquire the abovementioned site and commence work on our first full-scale oil sands plant and related matters. The contractual balance due if Greenfield was to assume full ownership of the site via TSHII is up to approximately US$16 million (dependent on the timing of the option exercise) and, at this stage, we envisage that Greenfield would require funding in excess of US$110 million for the construction of the first plant, the vast majority of which it would seek to finance by way of debt"


this clearly makes it sound like they need to raise funds if they decide to excercise the option on the land deal. It is ok complaining about the de rampers, but if tom stopped presenting the opportunites to them it would not happen.

If they already have the funds for their share of the $1.8m required why not state that?

It seems like they put out an rns and then spend the day explaining it is not how it sounds ! FFS, write what it is meant to sound like then !

[the diddymen] 22/6/2021 12:37

I cannot recall any factual disclosure by TOM that the consideration for the lease deposit is excluded from the free cash headroom.

Perhaps others have privileged access to information. Never a particularly good sign if you are outside the 'group'.

Caveat emptor etc

[goulding1215] 22/6/2021 11:53

So, how do these analysts work Vauch, the day before?

And this one:- Decade Of Chaos Could Send Oil To $130 Per Barrel.

[lopodop] 22/6/2021 11:31

At the end of the day, Petroteq and Valkor are clear winners. Cleverly BOTH have out manoeuvred TOM and TOM is just a suppliant - it has spent a lot of money so far and what do investors have?
The board has done well for no investment.
Savvy investors are already into and will back Petroteq and Valkor. Tom may pick up some crumbs down the line if it gets some experts to sort out the situation.

[vauch] 22/6/2021 11:28

Cant really count oil prices as they are now, it will be relevant on production.

[the diddymen] 22/6/2021 11:26

As Sage of Saint says the TOM narrative is dead as a door nail unless they can raise funds. The problem at this stage is that all the cards are now held by the new capital and it will be gun to head time. The only alternative for existing shareholders to retain control is to fund it themselves. In my experience even existing shareholders are not charitable to other shareholders that do not have cash.

TOM shareholders need to make sure they have sufficient cash in the piggy bank and get ready to vote out the management's special resolution.

The only note of caution is that the RNS is very vague about the deliverables. 250bb a day is clearly not commercial. If TOM cannot scale up the new cash will also be dead money.

Plenty of other assumptions which I have ignored.

You can see why nobody in their right mind would buy into the share and why the share price is set to weaken. Plenty of opportunity for good leadership here.

[goulding1215] 22/6/2021 11:23

Lol, sellers thinking they will be buying cheaper on the phantom placing.

[thesageofsaint] 22/6/2021 11:15

Enough for today, bye for now!

[ducky fuzz] 22/6/2021 11:06

g .. 110 million not 110k ..

[thesageofsaint] 22/6/2021 11:05

No one else seems to think so. Looking like capitulation. All bullets fired and back to 0.5p and you post foolishness about hundred of millions of dollars in the same sentence.

[shaunx] 22/6/2021 11:04

Give it a rest Andrew, it's come a long way since you were conning people.

[goulding1215] 22/6/2021 11:03

Yes Vauch $110,000,000 for plant and land-lease, saving $380 million in 20 years, plus oil value has doubled in profit. A stonking rns.

[thesageofsaint] 22/6/2021 11:02

No body knows. There is now a kaleidoscope of numbers that have never been verified, justified or often achieved. We went from 400BOPD to reach 500, down to a 12 hour shift equivalent, to 250 per day and 180 attained but not sure if this is sustained or exceptional. We went from 3 months plus some few weeks for trialling to delay to delay to cold weather to delay to 12 months and still not complete. We went from £1.5M placing to another of £3.5M just 4 months later and have spent £4m in 11 months but we actually know very little of what on. We have a JV where only one party funds and the other party expenses from it. We have a land purchase agreement whose price was agreed before DD and is conditional on funding in 100 days from now, to a value that is more than the cash at hand. So is this $110, half of $184, is in inc or ex of land cost or just for one plant not two? You lot own the company and you have no understanding of what your employees are doing!

[the diddymen] 22/6/2021 11:01

I wonder if TOM have entered any NDA's?

[lopodop] 22/6/2021 10:36

TIME for management so called to give up. Appoint a RECEIVER and bring this chaos to some sort of resolution encompassing deal with VALKOR and PETROTEQ. What happens then depends on skill of receiver but could be attractive to investors.